What a difference a year can make! Sales in Chisago, MN in 2013, took a dramatic shift to the positive. Overall, the housing market made a positive turn in the Minneapolis/St Paul metro area in 2012. But sales in Chisago, were a bit slower. Thankfully, this community seemed to turn a corner in 2013. Closed sales were up significantly in Chisago in 2013 with 95 homes sold, an increase of almost 50%. New listings were also up over 40% from 125 to 176. Likewise the average sales price showed a good increase rising 13.6% in the past year coming in at just under $215,000. Sellers received closer to asking price in 2013 for the second straight year; now sellers receive an average of 95.5% compared to 93.4% in 2012. Market time dropped significantly for the fourth year in a row. It now takes an average of 130 Days on Market just over 3 months to sell a home which is similar to other Chisago County suburbs. The price per square foot in Chisago jumped up over 18% in 2013. It now stands at $110/sq ft compared to $93/sq ft in the previous year.
As we head into the spring market, housing inventory remains low but buyer demand is high. Sellers could find 2014 a good year to list their Chisago homes. Existing home inventory levels are low for homes in this north metro community that is very affordable for first time home buyer. This area poised to become a seller’s market, where sellers have the negotiating advantage. With continued low interest rates, home buyers are still out their looking for the perfect place to call home despite our tough winter. Home owners considering selling in 2014 hoping to get the most leverage from the improved market should consider listing their homes before the spring market heats up and there is additional competition.
SEARCH for Chisago Homes
What is my Chisago Home Worth?
Comments (1)Subscribe to CommentsComment